ADSERO Advises TSFE on its Partnership with Al Ahly CIRA to Develop International University Models

July 3, 2024

We advised the Egypt Education Development Fund Company – a joint venture (JV) established by The Sovereign Fund of Egypt (TSFE) and the Universities Support and Development Authority (USDA) – on partnering with Al Ahly CIRA for Educational Services (Al Ahly CIRA) - a JV established by Al Ahly Capital Holding (ACH) and CIRA Education - to establish a new company to develop four universities in Egypt (including branches of prestigious global and technological universities).

The partnership between Egypt Education Development Fund Company and Al Ahly CIRA aligns with Egypt’s 2030 vision and national strategies to enhance higher education quality and competitiveness. It supports the 2024-2025 Economic and Social Development Plan, which focuses on education aligned with labour market needs, increasing international student enrollment, and promoting sustainable development, innovation, and socio-economic growth.

Our team was led by Mohamed Abdelgawad, Partner, and Ahmed Adib, Partner, who handled the part related to the shareholders’ agreement, along with Ehab Fedaa, Partner, Hussien Moustafa and Malak El Alfi, Associates, who managed the work related to the incorporation of the Egypt Education Development Fund Company.

Congratulations to Ayman Soliman, Ihab Rizk, Kamal Tarek, Ramy Hanna, and Amr Shaker from TSFE on this achievement.

Congratulations to the talented teams at CIRA Education and ACH.

Pleased to have worked on this transaction alongside Amr Namek and Rana Hegazy from Al Tamimi, the legal advisor of Al Ahly CIRA.

For more information, check out TSFE's coverage here.


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